C. I. T. Corporation v. Marion J. Hess

Plaintiff (respondent) brought this action to recover from defendant (appellant) the balance alleged due upon an ""Equipment Lease"" contract, dated September 23, 1959, and assigned to plaintiff September 29, 1959. The material terms of the lease were as follows: ""Lessor hereby leases to Lessee, and Lessee hereby hires and takes from Lessor the following-described personal property (hereinafter, with all replacement parts, additions, repairs and accessories incorporated therein and/or affixed thereto, referred to as ""equipment""): * * * 1 -- NEW MODEL 38-B BUCY-RUS-ERIE SHOVEL -- SERIAL NUMBER 118161 UNIT 70 MOUNTING * * * and Lessor agrees within -- AT ONCE -- from the date hereof to cause said equipment to be delivered to Lessee, f. o. b. MALAD, IDAHO.